The Recovery Act invested millions in new projects that are improving our infrastructue, repairing homes, and much more. But it also provided millions in direct benefits for families, students, businesses, investors, and more including more than $288 million in various forms of tax relief. Guidance on how to access each of those benefits is below.
Submitted by Center for Publ... on Wed, 06/02/2010 - 03:00
The American Recovery and Reinvestment Act (ARRA) is making a vital difference in Texas. Potentially injecting as much as $38 billion into the state economy, ARRA temporarily increases grants to federal, state, or local government agencies while providing tax cuts or tax credits to families and businesses. This Policy Page discusses the importance of the ARRA funds in the Texas state budget for 2010-11--the budget cycle that begins on September 1--and related developments.
ARRA in the Texas State Budget
About $16 billion of Texas' Recovery Act funding had to be appropriated by the legislature through the state budget or required the legislature to change state law. For example, Texas' receipt of $555 million was contingent on modernizing the state's Unemployment Insurance system.
To read the full policy page, click here.
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